As you begin planning, you will need to consider the ownership structure of your business. Your business ownership structure will not only define who owns the business, but also will determine who controls it, who assumes liability, how profits are divided and how your business will be taxed.
The list below represents six common business types. There are, however, many ways to set up a business, and each business is subject to its own unique tax situation. You should consult with a qualified tax professional and a lawyer to determine the appropriate structure for your business. For more information on corporate ownership structures in the District of Columbia, visit the District's online Business Resource Center.
- Sole Proprietorship
- General Partnership
- Limited Parternship
- S Corporation
- C Corporation
- Limited Liability Company (LLC)
- Limited Liability Parternship (LLP)
For more information on these business types please download the Comparison of Ownership Structures chart.
Assistance For Business Planning
If you would like to work with an experienced counselor to help develop your business plan, we recommend that you contact one of several resource centers in the District. These resource centers provide comprehensive business start-up assistance including business planning and marketing.
Small Business Administration
The U.S. Small Business Administration is a federal agency devoted to helping small businesses. It has both resource centers and counselors to assist you with starting and growing your business. The SBA's Service Corps of Retired Executives (SCORE) counselors can provide mentoring, training and advice for both start-ups and existing businesses. You can reach the District office of SCORE at (202) 606-4000 x287.
Small Business Development Center
The DC Small Business Development Center (DCSBDC) Network provides business counseling and marketing resources. The lead center can be reached at (202) 806-1550 or online at www.dcsbdc.com.
National Women's Business Center
The National Women’s Business Center was created to assist women in starting or growing their own businesses. They offer many classes and workshops run by volunteer instructors from the business world. For more information on attending classes contact the center at (202) 785-4922 or online at www.womensbusinesscenter.org.
DC Chamber of Commerce Business Resource Center
The DC Chamber of Commerce Business Resource Center (DCCCBRC) provides technical assistance to small business owners, including business and marketing planning, and facilitates access to capital. Please call (202) 545-0220 to make an appointment, or you may visit them online at www.brc.dc.gov/gabrc.
Minority Business Resource Center
The National Community Reinvestment Coalition assists small and minority business owners to start and expand their businesses. The Minority Business Resource Center is located within the Department of Employment Services Business Resource Center and funded by the U.S. Department of Commerce. For additional information, contact the center at (202) 671-1552.
Please refer to our section on Business Resources for more information on each of these resources.
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